Spectator on facebook

Spectator on facebook

FOCUS SHORT

‘Millionaire’ income tax preserved

The Iveta Radičová government has decided to preserve the so-called millionaire tax. According to the scheme, introduced under her predecessor Robert Fico in 2007, the non-taxable income of private individuals decreases when gross income rises above a certain level. Ivan Mikloš, the current finance minister had previously criticised the tax, calling it punishment for the wealthy.

The Iveta Radičová government has decided to preserve the so-called millionaire tax. According to the scheme, introduced under her predecessor Robert Fico in 2007, the non-taxable income of private individuals decreases when gross income rises above a certain level. Ivan Mikloš, the current finance minister had previously criticised the tax, calling it punishment for the wealthy.

This year the millionaire tax will apply to individuals with a monthly gross income above €1,774; those earning €3,074 and more will effectively get no tax-free allowance. Last year the millionaire tax applied to people earning €1,475 and more, according to the Pravda daily. The state collects €30 million per year via the tax, which was named after earnings in Slovakia’s pre-euro currency, the crown, one million of which were worth approximately €30,000.

Topic: Finances and Advisory


Top stories

My five-year-old daughter will almost certainly encounter a Weinstein too

It’s not that I thought sexually harassing women was okay, it’s more that I accepted that was just part of how things worked. Unfortunate, yes, but also standard.

Harvey Weinstein

Socialism elections were parody of free vote

After the revolution in 1989 the number of people participating in elections fell from 99 percent to around 60 percent.

Elections during socialism regime.

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between November 17 and November 26, plus regular services in different languages, training, temporary exhibitions and highlights of the year.

Lúčnica

Top 3 stories from Last Week in Slovakia Video

Chinese could produce e-cars in Slovakia - PM Robert Fico does not see election defeat - Poliačik leaves the strongest opposition party

PM Robert Fico